STATE OF NEW YORK
________________________________________________________________________
526
2025-2026 Regular Sessions
IN SENATE(Prefiled)
January 8, 2025
___________
Introduced by Sen. MAYER -- read twice and ordered printed, and when
printed to be committed to the Committee on Local Government
AN ACT to amend the real property tax law, in relation to providing for
interest to accrue on missed installment payments beginning from the
due date of such missed installment payment
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Section 924-a of the real property tax law is amended by
2 adding a new subdivision 4 to read as follows:
3 4. Notwithstanding any provisions of this chapter, or any other gener-
4 al, special or local law to the contrary, in any case where an owner of
5 real property has elected to pay taxes in installments, if any such
6 installment is not paid on or before the date when due, additional
7 interest shall only begin to accrue from the due date of such missed
8 installment payment at the rate as determined pursuant to this section,
9 or such other law as may locally be applicable.
10 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD01408-01-5
